Coldwell Banker Residential Brokerage’s Connecticut and Westchester County, New York office has launched a new home improvement program with a promise to cover sellers’ up-front repair costs, repayable at closing with no interest.
The brokerage partnered with HomeAdvisor, a consumer-facing digital marketplace for home services, to launch RealVitalize.
“The partnership with HomeAdvisor gives our real estate agents an advantage over similar programs because they are removed from managing the home improvement process, allowing them to focus on marketing and selling homes,” Coldwell Banker Connecticut and Westchester President Joe Valvano said in a statement. “Today’s home sellers and buyers are looking to real estate professionals to provide solutions for an easier home transaction process, which occurs through RealVitalize. It is a favorable program for all parties.”
The move comes as brokers across Connecticut report that many buyers have been reluctant to pay list price on a house – or buy it, at all – that’s in need of improvements. Market-watchers attribute the trend to the state’s relatively stagnant home prices and a build-up of personal and student debt among younger homebuyers.
Through RealVitalize, a homeowner who lists their home for sale with a participating brokerage company will have the option to make non-structural home improvements and repairs using a service professional from the HomeAdvisor network. The program is also available to current home sellers who want to enhance their home to help achieve optimal offers.
The brokerage will cover the upfront costs of repairs, which will be repaid by the seller when the property sale closes or the listing expires. There are no additional fees to participate in the program and no minimum listing price. Available projects include staging, appliance purchasing and installation, handyman services, painting, kitchen and bathroom upgrades, and more.
To participate, the agent will connect their home seller client with a dedicated HomeAdvisor project consultant to discuss the services needed to prepare the home. HomeAdvisor will help manage projects from start to finish, finding appointment times that work conveniently within the homeowner’s schedule. Experienced, pre-screened service professionals from HomeAdvisor’s network will make the improvements.
This program, powered by HomeAdvisor, is an exclusive offering for Coldwell Banker clients. The program is currently available in the Connecticut and Westchester County, New York market area with a national roll-out planned later this year for other market areas.
“Selling a home is a major life event where homeowners frequently need help finding home services and home service professionals,” Brandon Ridenour, CEO of HomeAdvisor parent company ANGI Homeservices, said in a statement. “We choose to partner with Coldwell Banker, a real estate industry leader who has impressive scale and a well-established national market presence, to offer an innovative program providing simple and effective solutions for homeowners to improve their home during the sale process. Our goal is to make sure our brands, products and tools are there to help homeowners at all stages of the homeownership journey. This program seamlessly integrates HomeAdvisor and our pros into that journey, expanding how we are reaching new customers and providing a unique and valuable experience for Coldwell Banker and its clients.”
